2006 Transactions
Tremont Arranges $4,000,000 Financing for
Royal Highlander MHC
The
Chicago office of Tremont Realty Capital arranged financing
for the refinancing of Royal Highlander MHC, a 281-site
manufactured housing community located in Peoria, IL
Tom Lorenzini, a Managing Director with Tremont,
arranged the 5-year; $4,000,000 non-recourse loan which
provided for less than 50% loan-to-value with a 6.29% interest
rate amortized over 30 years. The property was 95% occupied
at the time of closing. According to Tom Lorenzini, "Tremont
was able to satisfy the borrower's requirement of a fixed
rate loan with very flexible prepayment penalties. After
an initial lock out period the borrower will have the ability
to payoff the loan with a minimum of a 1% fee."
For additional information on this transaction,
please contact:
Thomas Lorenzini
Managing Director
Email: tlorenzini@tremontcapital.com
Phone: 312.236.0960
